Home ownership in the United States has flourished in part because of the availability
of mortgage loans that can be paid off with relatively low monthly payments over 20 to 30
years. Large amounts of funds are supplied to mortgages because banks and other mortgage
originators have been able to package and sell pools of mortgages (securitizations) to a wide
range of investors. This has been possible because of the standardization of underwriting
standards, and systems of public and private insurance. Securitization into mortgage backed
securities (MBS) and similar assets has also distributed the risk of mortgage loans widely and
to lenders better able to accept such risks.